The term “Platinum Triangle” is used to describe an extremely exclusive section of Los Angeles, comprised of three neighborhoods: Beverly Hills, Holmby Hills, and Bel-Air. Even people who are not familiar with Los Angeles are often familiar with the neighborhoods in the Platinum Triangle, because they have become famous for their exclusivity. Living in this region of Los Angeles, as you might imagine, requires substantial wealth; home sales in the Platinum Triangle routinely set new residential sales records for the United States.
Like other exclusive neighborhoods, this area is characterized by having a generally extremely wealthy population, with the large houses, flashy cars, and costly style to match. Businesses in the area tend to cater to wealthy clientèle, featuring costly items and only the most current fashions. Outsiders often like to visit this neighborhood to get a glimpse of the lives of the rich and famous, shopping in the same boutiques frequented by movie stars and eating in luxurious restaurants and cafes.
The generally wealthy residents of the Platinum Triangle carry a great deal of social clout, both because of their wealth, and because of their positions in society. Many residents are prominent in the film industry, and the area also houses musicians, star athletes, and other socially prominent individuals. The citizens of the area often use their collective clout to push for special ordinances and other privileges in the Platinum Triangle, arguing that they deserve to get the most out of their very high property taxes.
This neighborhood isn't just expensive to live in because rich people live there; it's also generally viewed as a very nice neighborhood, which in turn feeds into the cost of real estate. Homes are often set on large lots with mature landscaping and a variety of design and safety features, and the views are stellar, commanding a sweeping vista of the city of Los Angeles and the Pacific Ocean. Many homes also feature a range of amenities, from movie theaters to ballrooms, designed to appeal to the wealthy.
Critics often denounce the Platinum Triangle as being extremely ostentatious, and also rather shocking when compared with the extremely impoverished regions of Los Angeles. Many people differentiate between the “new money” residents of places like Beverly Hills, where houses tend to be especially flashy, and the “old money” of Holmby Hills, which tends to have more modest architecture and landscaping.